Marriott (MAR) Hotel Owners Seek More Bonvoy Revenue

Marriott International, Inc. (NASDAQ:MAR) is one of the 10 All-Time High Stocks with Legs to Rally Further.

On June 16, 2026, The Wall Street Journal reported that dozens of hotel owners pressured Marriott International, Inc. (NASDAQ:MAR) to share more revenue from its Bonvoy loyalty program. The program is expected to generate nearly $1B in fee revenue this year. A March letter from 51 owners representing nearly 1,000 Marriott-branded hotels sought additional financial information and changes to the program’s reimbursement structure. Marriott’s intellectual-property royalty fees from credit-card partnerships reached $716M in 2025, up from $410M in 2019.

On June 10, Marriott entered into a joint venture with the Leali family, founders of Lefay, adding the luxury wellness hospitality brand to Marriott’s portfolio. The joint venture owns the Lefay brand and intellectual property assets, while the founders retain ownership of the Italian real estate assets. Lefay currently has properties in Lago di Garda and the Dolomites, with resorts under development in Tuscany, Southern Italy, and the Swiss Alps. Its properties will join Marriott’s digital platforms and Bonvoy program, with integration expected in late 2026.

Marriott (MAR) Hotel Owners Seek More Bonvoy Revenue

Last month, Bernstein raised its price target on Marriott to $402 from $400 and maintained an Outperform rating. Bernstein said Q1 developments in Global Hotels & Leisure were shaped more by the U.S. economy than the Middle East. Given the K shape of the U.S. economy and the outlook for 2026 and 2027, Bernstein remains most positive on Hyatt (H) and Marriott (MAR).

Marriott International, Inc. (NASDAQ:MAR) operates, franchises, and licenses hotel, residential, timeshare, and other lodging properties internationally.

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